News Headline Summary

Pre-market Australian stock news...

Woodside Petroleum (WPL AT)
- Co. and its partners in the controversial Browse LNG project look set to declare they will pursue a floating LNG plant development. (The Australian)

Ten Network Holdings (TEN AT)
- Co. CEO will spearhead a fresh assault on the USD 3bln commercial television market with a new strategy centred on “event” programs that will challenge rivals Seven and Nine head on. (The Australian)

Australand (ALZ AT)
- Co. announced the GPT Group is abandoning its USD 3bln pursuit for the bulk of the business yesterday. (The Australian)

Virgin Australia (VAH AT)
- Co. welcomes Foreign Investment Review Board approval for proposed 60% buy of Tiger Australia. Co. said the approval enables Virgin to access budget market segment and expects the deal to complete by mid-July. (Newswires)

Suncorp (SUN AT)
- Co. targets 10%+ return on equity by FY 2015. (Newswires)
- Co. expects average growth of 7%-9% per annum for the next 2 years.
- Co. expects to maintain dividend payout ratio of 60%-80% of earnings till 2015.
- Sees AUD 225mln benefit from simplification plan in FY 2015 and AUD 265mln in 2016.

Orica (ORI AT)
- Trading Ex-dividend. (Newswires)

27 May 2013 - 23:38 - Equities - Source: Newswires/The Australian

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